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Seoul stocks rebound late Thur. morning on chip gains

All News 11:35 December 03, 2020

SEOUL, Dec. 3 (Yonhap) -- South Korean stocks traded slightly higher late Thursday morning despite a resurgence in new coronavirus cases, led by strong chip advances.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 2.81 points, or 0.11 percent, to 2,678.71 as of 11:20 a.m.

The KOSPI rebounded, largely as chip shares gained on brisk November exports and rosy forecasts for next year.

Large caps traded mixed in Seoul.

Market bellwether Samsung Electronics added 0.43 percent, and No. 2 chipmaker SK hynix gained 0.46 percent.

Hyundai Motor, the country's largest carmaker, jumped 4.38 percent.

Leading chemical firm LG Chem shed 1.55 percent, and rechargeable battery maker Samsung SDI retreated 1.09 percent.

Pharmaceutical giant Samsung Biologics dropped 0.38 percent, while Celltrion rose 1.59 percent.

Internet portal giant Naver went up 0.18 percent, but its rival Kakao declined 0.67 percent.

The local currency was trading at 1,098.35 won against the U.S. dollar, up 2.45 won from the previous session's close.


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